Required information [The following information applies to the questions displayed below] The following are the transactions for the month of July. Required: 1. Calculate cost of goods available for sale and ending imventory under FIFO. Assume a periodic inventory system is used . Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used Calculate cost of goods avallable for sale and ending inventory under FIFO. Assume a periodic inventory system is used. \begin{tabular}{|c|c|c|c|c|} \hline pifo, (Penodic) & Units & \begin{tabular}{c} coutipet \\ Unit \end{tabular} & \multicolumn{2}{|c|}{ Total } \\ \hline Beganning Inventory & 60 & & 5 & 0 \\ \hline \multicolumn{5}{|l|}{ Purchases } \\ \hline July 13 & & & 3 & 0 \\ \hline \multicolumn{5}{|l|}{ Goods Avaitable for Sale } \\ \hline \multicolumn{5}{|l|}{ Cost of Goods Sold } \\ \hline Units from Beginning Inventory & 60 & & & \\ \hline \multicolumn{5}{|l|}{ Units from July 13 Purchase } \\ \hline Total Cost of Goods Sold & & & $ & 0 \\ \hline Ending Inventory & & & & \\ \hline \end{tabular} Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used